2015 (10) TMI 1156

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.... Jindal, Member (J),J. For the Appellant : Shri Rajesh Chibber, Adv. For the Respondent : G R Singh, AR ORDER Per: Ashok Jindal: Both the assessee as well as revenue are in appeals against the same impugned order. 2. The facts of the case are that assessee was a manufacturer of electric items. During the course of audit, it was found that during the period 2007-2008, 2010-2011, i....

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..... The adjudicating authority confirmed the proposal made in the show cause notice. On appeal, learned Commissioner (Appeals) held that the assessee is required to reverse the proportionate credit attributable to trading activity as per the Rules as amended w.e.f. 1.4.2011. Against such order, both the parties are in appeal, Revenue is in appeal on the ground that formula adopted by learned Commiss....

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.... Punjab steels [2010 (260) ELT 521 (P&H)]; A R Casting (P) Ltd. vs. CCE, Chandigarh [2010 (256) ELT 420 (Tri-Del)]; and Bansal Alloys & Metals Ltd. vs. CCE, Chandigarh [2010 (250) ELT 529 (Tri-Del)]. 6. Learned AR opposed this contention of the learned Counsel and submits that as per Rule 2(e) of the Cenvat Credit Rules, 2004 by a notification issued on 1.4.2011 and since this amending notifica....

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....ng. Show cause notice has been issued only on the basis of figures shown in the balance sheet. For removal of inputs as such, Rule 3(5) clearly states that if inputs is removed as such, the assessee is required to reverse only Cenvat credit availed on such inputs. In judicial terms which has been contended by the assessee as mentioned hereinabove, if inputs is removed as such, in that case the ass....